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MOTOR BODY SHEETS.
NEW COMPANY'S PUNS,
Mr. H. S. Lysaght to be Chairman
of Directors.
SYDNEY, Wednesday.— Mr. II. S, Ly
saght (chairman of directors of John
Lysaght Ltd.), announced to-day that his
organisation and the Armed Rolling Mills
wcro forming a company for tho purpose
of manufacturing motor body chcots in
special quality high grado shcots. Ho said
tho plant had been ordered and it was
anticipated the works would be In opera
tion in a little over twelve months' time.
The works would bo cither at Newcastle
or Port Kembla, but there were certain
negotiations going on and until they were
Completed, he could not say which of the
two sites v/ould be chosen. The company
would shortly be registered with a capital
of £1,000,080, About £500,000 would
be spent on the first section of the plant
and some 400 men would be directly em
ployed with probably a further 400 men
Indirectly. Mr. Lysnght will bo the first
chairman of directors of tho new com
pany. .
Aspro Ltd.
A rise In profits for the year ended
June SO, 1937, of £11,593 to £303.913 Is
reported by Aspro Ltd., London, The pre
vious trading period, however, was from
the dato of incorporation, May 30, 1036,
to June 30, 1936. Depreciation absorbed
£2363, against £2598, and after con
tributing £ 1283 to tho pension fund nnd
deducting directors' fees, there remains
a balance ol £288.875, which, with
£10,683 brought in, makes a total of
£299,258. As already announced, the
distribution for the year on tho ordinary
shares is raised 7'/2 per cent., to 32 ti per
cent., with a final dividend of 15 per
cent, and a bonus of 714 per cent. Direc
tors also propose to Increase the alloca
tion to tax reservo from £65,374 to
£73,000, while £50,000 is again placed
to general reserve. This year a dlvldond
equalisation reserve is inaugurated, with
an initial transfer of £20,000, which
leaves £10.959 to be curried forward.
Tho authorised and issued capital of
£1,090,000 is divided equally Into 514 Per
cent, cumulative preference shares and
ordinary shares. The chairmnn nnd
managing director of tho company is Mr.
O. M. Garcia, and Mr. M. A. Nicholas
1ms been elected a, director.
Elder's Trustees Dividends.
For tho half year ended September 30,
directors of Elder's Trustee and Executor
Co. Ltd., Adelaide, have declared in
terim dividend at tho rate of 10 per cent,
a year. Payment will be made on No
vember 34. Books close November 10.
Colonial Gas Association.
An extended report of tho speech of
tho chairman of Colonial Gas Association
Ltd. (Mr, P. C. Holmes Hunt), at yester-'
day's meeting, appeal's on page H,
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